# Compositional Shares: Demographics → Trilemma Composition

| Variable | Sum (Z+ctrl) | MI share (Z+ctrl) | ERS share (Z+ctrl) | FO share (Z+ctrl) |
|:---|---:|---:|---:|---:|
| Z_1 | 3.8461*** | -0.7875*** | 0.0504 | 0.8986*** |
| | (0.6095) | (0.2169) | (0.2149) | (0.2287) |
| Z_2 | -0.5618*** | 0.1164*** | 0.0098 | -0.1514*** |
| | (0.0933) | (0.0332) | (0.0328) | (0.0351) |
| Z_3 | 0.0223*** | -0.0048*** | -0.0009 | 0.0067*** |
| | (0.0039) | (0.0014) | (0.0014) | (0.0015) |
| fiscal_bal_gdp | 0.0024** | -0.0001 | -0.0003 | 0.0002 |
| | (0.0012) | (0.0005) | (0.0005) | (0.0004) |
| nfa_gdp_lag | 0.0123 | -0.0002 | -0.0066* | 0.0063* |
| | (0.0104) | (0.0039) | (0.0040) | (0.0037) |
| rgdp_growth | 0.0009 | -0.0001 | 0.0005* | -0.0004 |
| | (0.0007) | (0.0003) | (0.0003) | (0.0002) |
| log_rel_opw | 0.0485** | -0.0231*** | -0.0147* | 0.0345*** |
| | (0.0229) | (0.0082) | (0.0081) | (0.0086) |
|:---|---:|---:|---:|---:|
| N | 4175 | 4175 | 4175 | 4175 |
| R² | 0.1040 | 0.1378 | -0.0032 | 0.2091 |
| Countries | 146 | 146 | 146 | 146 |

*Standard errors in parentheses. Logit columns report marginal effects at means.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*